Spark Therapeutics Announces Pricing of Public Offering

Published 7:13 PM ET Tue, 15 Dec 2015
Globe Newswire

PHILADELPHIA, Dec. 15, 2015 (GLOBE NEWSWIRE) -- Spark Therapeutics, Inc. (“Spark”) (NASDAQ:ONCE) announced today the pricing of an underwritten public offering of 3,000,000 shares of its common stock at a public offering price of $47.00 per share, before underwriting discounts. The offering consists of 2,000,000 shares being sold by Spark and 1,000,000 shares being sold by The Children’s Hospital of Philadelphia Foundation (“CHOP”), resulting in aggregate net proceeds of approximately $88.4 million to Spark and approximately $44.2 million to CHOP, after deducting underwriting discounts and before offering expenses. In addition, Spark and CHOP have granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 450,000 shares at the public offering price, less the underwriting discount. Spark will not receive any proceeds from the sale of shares by CHOP.

The offering is expected to close on or about December 21, 2015, subject to satisfaction of customary closing conditions. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on December 15, 2015.

J.P. Morgan Securities LLC, Cowen and Company, LLC and Evercore Group L.L.C. will act as bookrunning managers for the offering. SunTrust Robinson Humphrey, Inc. will act as lead manager and Roth Capital Partners, LLC will act as co-manager. This offering is being made only by means of a prospectus, copies of which may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204; Cowen and Company, LLC c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by calling (631) 274-2806 or by faxing (631) 254-7140; or Evercore Group L.L.C., 55 East 52nd Street, New York, NY 10055, Attn: Prospectus Department or by telephone at (212) 849-3486.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.

About Spark Therapeutics

Spark is a gene therapy leader seeking to transform the lives of patients suffering from debilitating genetic diseases by developing one-time, life-altering treatments. Spark’s initial focus is on treating rare diseases where no, or only palliative, therapies exist. Spark’s most advanced product candidate, SPK-RPE65, which has received both breakthrough therapy and orphan product designation, recently reported positive top-line results from a pivotal Phase 3 clinical trial for the treatment of rare blinding conditions. Spark’s validated gene therapy platform is being applied to a range of clinical and preclinical programs addressing serious genetic diseases, including inherited retinal dystrophies, hematologic disorders and neurodegenerative diseases. Spark builds on two decades of research, development and manufacturing at The Children’s Hospital of Philadelphia, including human trials conducted across diverse therapeutic areas and routes of administration.